Skip to main content

Let’s ease the pressure on portfolio buy to let from Leeds

29 September 2017

Leeds

In 2016 and 2017 there’ve been a lot of changes to the buy to let (BTL) market. Leeds Building Society is easing the pressure for you and your customers, with a simplified application process and updated lending criteria.

What Leeds Building Society is doing to support you:

  • Increased their maximum portfolio size from 8 properties to 10 mortgaged rental properties and unlimited unencumbered
  • Landlords can now have 4 rental properties mortgaged with the Society, whether they're BTL, Holiday Let or a combination of both
  • Expanded their dedicated BTL underwriting team to include specialist portfolio landlord underwriters
  • Given their BDM team specific training to support you at the first point of contact
  • Introduced a simple portfolio landlord application process, making it easier for you to submit business
  • Created a dedicated webpage to give you all the information you need

Leeds Building Society BTL criteria:

  • Up to 70% LTV
  • 140% ICR
  • Stress rate of 5% for pound-for-pound remortgages
  • Stress rate of 5.5% for purchase and capital raising remortgages
  • No minimum income (subject to assessment and affordability)
  • No maximum term for assured shorthold tenancy agreement
  • 140% ICR and a stress rate of 5.5% when assessing background rental properties
  • HMOs are permitted with up to 5 bedrooms, and up to 2 people per room

To find out what else Leeds Building Society is doing to ease the pressure for you and your portfolio landlord customers, visit their dedicated site.


Using an Ipad

Follow us on twitter

Follow Jeremy Duncombe for market and product updates on Twitter. You'll find him at @JeremyDuncombe.